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You can't do that. You also can't not eat. And you can't not save either.
23% ...12/52 of their annual
That's including utilities too.
Same.
I'm not saying it's easy or fun...
but if you want to have a chance at getting anywhere in life...
tighten the belt and make it work.
I'm flabbergasted that you're not getting this.
There are many ways to live responsibly and put plenty toward both food and savings, and that can mean paying way over 30% toward housing. Because (shock!) it's possible for other expense categories to be very low.
There are many ways to live responsibly and put plenty toward both food and savings,
and that can mean paying way over 30% toward housing.
I'm guessing this is obvious to most readers.
What's obvious is that most will value the nicer address or larger space or not sharing
more than they do the savings or better food or education or travel or car or twenty other things
that the difference could add up to in their lives.
Which means that however much they might be able to "live responsibly and" ...
they don't. And haven't.
---
But if the discussion were really about holding to 30%, of missing the target of 23%
by those few points because of some immediate circumstance then they might still have
a chance to hold it together. But too few will... right?
Most who will bich and moan about how tough it is are pushing 50% or more... and like the life too much.
Or even worse... they're doing it on credit.
There are many ways to live responsibly and put plenty toward both food and savings, and that can mean paying way over 30% toward housing. Because (shock!) it's possible for other expense categories to be very low.
Some people are just surviving. And they do indeed "not save". They have no energy or reason to think about the future, just how they will buy food and keep the lights on today.
I think that a lot of people in our country -- and indeed perhaps on this thread -- have no real idea what it's like to struggle to survive, so much so that there is no time or energy left to even THINK about how to get ahead or out of the current situation. Just even a little empathy would be nice.
I think that a lot of people in our country -- and indeed perhaps on this thread -- have no real idea what it's like to struggle to survive, so much so that there is no time or energy left to even THINK about how to get ahead or out of the current situation. Just even a little empathy would be nice.
I can see that.
At least for all of us who are making Minimum-Wage [or greater] there just isn't much of a struggle. I can certainly understand where people who are making less would be struggling.
We should be empathetic to those who are struggling.
For those who are working minimum wage jobs (or close) which do not require a degree, AND are living comfortably enough, how do you get by?
We do Ok.
Some examples of answers could be....
Do you do anything unique or creative? Maybe include such as...
I want to note BEFORE you read below: MOH was just out of bankruptcy and I just out of being homeless 17 year ago when we started:
Do you own your home?
YES, we saved like mad all extra funds, tax returns, christmas bonus {one to two weeks average pay from main part time job, and a $25% off gift card form grocery store.}, up to 3 times a year at main job has "extra monthly paycheck" {saved} and 4 extra weekly paychecks from grocery store} a year, plus christmas gift money for down payment. Our area is stable though depressed economy. We bought a "starter" home in one of the best neighborhoods. It is 2 br 1 ba ranch with garage and bonus room. Our mortgage including High NY taxes is very affordable {10% down}, and only just $100 above renting a LOT in a trailer park where we owned a trailer {worth nothing when we left...it's value was providing us a place to live, MOH paid it off before I came along}!
What do you do for a living?
I draw SSDI, and MOH has two part time jobs. Main part time job USED to pay about 60% ABOVE minimum wage, but now as minimum rises towards that supposedly *magic* $15, MOH is just above that there, and makes about as much as second job, cashier in a grocery store chain. SOmetimes I can work part time {thanks Bush Jr!}. This year MOH was delt a blow...getting hours permanently cut back at the primary job, our three incomes will now bring in much less than $30k, where we were just over $30k before.
What is your retirement outlook?
we will be OK I think, we have plans, and have been saving 10% every paycheck for years, we've been together for 17 years. I hope to return to working after my spine is fused and the pain goes away or is more manageable. We also, if our remaining fathers dropped dead now, will inherit $1.2 million dollars and about $300K + in property. How much remains, remains to be seen after spending for their elder care when we aren't able to. We aren't counting on it, but we should have MOH's SS, my SSDI/SS, and will shop in our target retirement city for up to 3 properties if we sell our northeastern home, one of which we hope to be a duplex. That can provide up to 3 additional incomes {a duplex will allow us to go back and forth until we can no longer make the trip-we would then take equity out of our home to buy it and then later shop for more} Oh, and we are accelerating our payoff on the house by temporarily suspending retirement savings adn can have it done in less than 5 years-all extra funds go directly to the mortgage principal}. My grandmother financed her entire well off retirement with rental properties in FLorida!
Will you continue to live similarly, better or worse? assets?
See above, we Actually hope to LIVE BETTER, and because of things like this, too: I will note, I drive an 11 year old paid for minivan which I will drive til it drops, and MOH , well we got a nice new Hyundai Elantra 2014 brand new paid $15k in cash for MOH, which will be driven til it drops too.
What do you do for medical care? do you have a health plan?
I have Medicare and AARP supplemental, and MOH has a cheap plan off the exchange, HOW THAT WILL CHANGE UNDER TRUMP remains to be seen!!!!
Goes without saying if you do not want to answer, no problem.
OR If this thread not appealing, please just allow the participants the ability to discuss the topic,unhindered, thank you
I think that a lot of people in our country -- and indeed perhaps on this thread -- have no real idea what it's like to struggle to survive, so much so that there is no time or energy left to even THINK about how to get ahead or out of the current situation. Just even a little empathy would be nice.
Thats how the downward spiral starts, the retoric starts that at least we are not 3rd world somolians, is that the standard with which we are gonig to measure for our own culture?
Wage: 26$ an hour for 40 hours a week
Job: Desktop Support
Take home: 3000$ a months however its sometimes more with miledge
Location: California somewhere
Rent: 800 $ a month utilities included
Phone and car insurance : 100$ A month
Food: $200-250 depends on my mood for snacks
Car Gas: 110$ A month
Netflix: 10$ a month
Supplies: 50$ to 80$
Health insurance: 0$
Debt : 0$
Leftover : 1700 to 1600 somewhere around there
I live pretty comfy and save a decent amount however I don't have anything like a new car or debt
The minute I do my money will definitely not render at all
Makes it easy to save up for those unexpected emergencies and also for the wedding ring for my girlfriend and spoiling her
When we move in thru it will be time for me to invest more for retirement
$800 / mo including utilities in LA sounds dubious...
$800 / mo including utilities in LA sounds dubious...
Did anyone say that LA was cheap?
$800/mo including utilities in LA sounds is dubious.
$500/month including utilities in this part of New England is normal.
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